The Colorado Restricted Stock Award Plan (RAP) is a comprehensive equity compensation program offered by Coca-Cola Enterprises, Inc. (CCE) to its employees who are based in Colorado. This plan enables eligible employees to receive restricted stock awards as a form of long-term incentive and retention tool. Under the Colorado RAP, eligible employees are granted a specific number of restricted stock units (RSS) as part of their compensation package. RSS are non-transferable units that represent a certain number of shares of Coca-Cola Enterprises' common stock. These awards are subject to vesting conditions and restrictions that must be met before the employees can fully benefit from them. The primary objective of the Colorado RAP is to align the interests of employees with those of the company's shareholders, promoting loyalty, motivation, and the long-term success of the business. By providing employees with a stake in the company's performance, it encourages them to work towards its growth and profitability. The Colorado RAP consists of several types of restricted stock awards, each having its own unique features: 1. Time-Based Restricted Stock Awards: These awards vest based on the employee's continued service over a specified period. For example, an employee might receive 1,000 RSS that vest over a four-year period, with 25% vesting each year. 2. Performance-Based Restricted Stock Awards: These awards vest based on the achievement of specific performance targets or milestones set by the company. These targets are typically aligned with corporate goals and financial metrics, motivating employees to contribute to the company's success. 3. Restricted Stock Units with Market Conditions: These awards vest based on the attainment of predetermined market conditions, such as a certain level of stock price or total shareholder return. The market conditions ensure that the awards reflect the company's overall performance and shareholder value creation. 4. Bonus Restricted Stock: In addition to the regular RAP, Coca-Cola Enterprises may offer bonus restricted stock grants to eligible employees in recognition of their exceptional performance, contributions, or achievements. These grants serve as additional incentives to drive excellence within the company. It is important to note that the specifics of the Colorado RAP, including the eligibility criteria, vesting schedules, and allocation methods, may vary depending on individual circumstances, job roles, and seniority within the company. The plan is designed to provide an equitable and performance-oriented compensation structure for employees based in Colorado, fostering a culture of ownership and shared success.
Colorado Restricted Stock Award Plan of Coca-Cola Enterprises, Inc.
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FAQ
No expiration date on RSAs/RSUs. The expiration date is the last day that a stock option can be exercised or converted to the underlying security as per the terms of your grant and may change based on your employment status.
For restricted stock that vests based on time, the expiration date is immaterial. If vesting is based on factors other than the simple passage of time, such as performance measures, the expiration date is the end of the period within which vesting is possible.
A Restricted Stock Award Share is a grant of company stock in which the recipient's rights in the stock are restricted until the shares vest (or lapse in restrictions). The restricted period is called a vesting period.